Friday, December 08, 2006
In new hire training at my company, a question that is often asked, “How can I make my project or career successful?” My answer to them is “Success is based on regularly making good decisions.”
Of course, this begs the question of how to develop the skill of good decision making. I use an explanation shared in the book Liar's Poker by Michael Lewis. The following paraphrases a discussion below between a bond trading trainer and a trainee.
Q: How does one make good decisions?
A: Good judgment.
Q: How does one develop good judgment?
Q: How does one get experience?
A: Bad judgment.
Good judgment is the important skill to develop. It’s ok to make mistakes, and good judgment prevents making the same mistake twice. The challenge is learning from experience and transforming understanding into good judgment :-)
Photo Credit: morgueFile.com, Pamela Benn
This is not financial or career advice. Please consult a professional advisor.
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